Kestra Private Wealth Services LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOG)

Kestra Private Wealth Services LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 187,509 shares of the information services provider’s stock after buying an additional 13,002 shares during the period. Alphabet makes up about 0.7% of Kestra Private Wealth Services LLC’s investment portfolio, making the stock its 20th largest position. Kestra Private Wealth Services LLC’s holdings in Alphabet were worth $26,426,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GOOG. Riversedge Advisors LLC grew its position in shares of Alphabet by 67.3% during the third quarter. Riversedge Advisors LLC now owns 5,422 shares of the information services provider’s stock worth $715,000 after buying an additional 2,182 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of Alphabet by 6.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 24,604 shares of the information services provider’s stock worth $3,244,000 after buying an additional 1,574 shares in the last quarter. Chronos Wealth Management LLC grew its position in shares of Alphabet by 0.3% during the third quarter. Chronos Wealth Management LLC now owns 69,091 shares of the information services provider’s stock worth $9,110,000 after buying an additional 197 shares in the last quarter. Connecticut Wealth Management LLC grew its position in shares of Alphabet by 56.1% during the third quarter. Connecticut Wealth Management LLC now owns 23,241 shares of the information services provider’s stock worth $3,064,000 after buying an additional 8,351 shares in the last quarter. Finally, Red Door Wealth Management LLC grew its position in shares of Alphabet by 1.2% during the third quarter. Red Door Wealth Management LLC now owns 78,823 shares of the information services provider’s stock worth $10,393,000 after buying an additional 915 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Raymond James lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Price Performance

Shares of Alphabet stock opened at $164.64 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $150.09 and its two-hundred day moving average price is $143.16. Alphabet Inc. has a 52 week low of $104.50 and a 52 week high of $176.42. The stock has a market cap of $2.05 trillion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. The business’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.46 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 253,289 shares of company stock worth $36,724,534 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.